BEIJING, Dec 29: China eased some of its restrictions on foreign participation in domestic securities companies in a revised regulation published on Friday.

The revised regulation allowed more foreign companies access to Chinese securities companies. They would be able to do so via more varied channels, said a China Securities Regulatory Commission (CSRC) official.

The new rule expanded foreign investors from securities companies alone, stipulated in the previous 2002 rule, to all financial institutions and common institutional investors.

Qualified investors would have to be in operation for five consecutive years, against the previously demanded 10 year minimum.

At least 30 employees of foreign investors were required to have the licence to be engaged in a securities business, down from the previous 50.

For joint venture securities companies, however, the maximum shares held by overseas investors was maintained and still capped below 33 per cent.—APP